New India Assurance, the largest subsidiary of the General Insurance Corporation, has been assigned AAA (highest safety) by the Crisil. New India was the first state-owned insurance company to be rated by any rating agency. The company is planning a major advertisement blitz to enhance its business volume. Conference on agribusiness funding: The Confederation of Indian Industry is organising a one-day conference on Friday on agribusiness financing. The meet is entitled Finagro. The objective of Finagro is to attract finance to fund the vital sector of agriculture by introducing newer sources of funding to agribusiness enterprises and related infrastructural projects. The conference would bring in large number of participants from both Indian and foreign agribusiness companies including entrepreneurs,progressive farmers, banks and financial institutions.

Dadi B Engineer is depositors body chief:

Dadi B Engineer, solicitor, advocate and seniorpartner of Crawford Bayley & Company was unanimously re-elected president of the All India Bank Depositors Association at the generalbody meeting of the association held in Mumbai last week. Nitin Raut, an advocate, was elected vice-president while Pai and PM Reporter was elected secretary (honourary) and treasurer (honourary) respectively. Ashok Rawat , KR Prithwiraj and S Diwakara were elected joint secretaries.

Tamil Nadu Depositors Act challenged:

A Chennai-based finance company has challenged the validity of the Tamil Nadu Protection of Interest of Depositors (in financial establishment) Act contending that accepting deposits was a banking activity and parliament alone was competent to control and regulate banking business.

RBI mops up Rs 3,579 crore:

The RBI held three-day repo auctions on Tuesday at a fixed rate of 6 per cent. There were seven applications received for Rs 3,579 crore and all were accepted by the RBI.